In 2005 two very important milestones of international climate policy were reached: The entry into force of the Kyoto Protocol and the installation of a European wide emissions trading system. In Germany, the publication of the fifth report of the inter-ministerial working group on climate...

The financial crisis has demonstrated the need to better understand the complex interactions between the financial system and the real economy. While stability has become the main focus of the regulatory changes, the implications for growth and equity are also important. To think through these...